Stacks [STX] gains newfound attention from investors, but will its uptrend last

ambcrypto.com:

As a new week begins, assets that were deprived of attention in the last seven days have been getting noticed by investors. Stacks [STX], the Bitcoin [BTC] layer for smart contracts, was one such token, as revealed by LunarCrush .

Read Stacks’ [STX] Price Prediction 2023-2024

According to the social intelligence provider for the crypto industry, Stacks’ social engagements, mentions, and dominance jumped over 100% in the last 24 hours. This hike implied that the community interaction, discussion, and traction were at incredibly top levels from a social perspective.

Source: LunarCrush

Although the increase had subdued a little, the perception around the token had bullish tendencies. An in-depth assessment of LunarCrush showed that bullish sentiment had increased by 95% between 2 April and press time.

But the average bearish sentiment also had a similar trend. The metric specifically looked at posts that suggest cynicism over time. Therefore, STX was still subject to negative image despite its 316% 90-day price increase.

Source: LunarCrush

However, STX rode with the expectations of the bulls, increasing by 3.82% in the last 24 hours.

Based on the daily chart, the 20 EMA (purple), which had crossed the 50 EMA (yellow) on 23 January, had maintained the same position at the time of writing. This stance implied that traders were bullish on STX, and the cryptocurrency had the potential to establish a new uptrend.

Furthermore, the Moving Average Convergence Divergence (MACD) displayed a different trend from the EMAs. The MACD condition, as of this writing, showed that the orange dynamic lines rose above the blue.

Source: TradingView

Another notable part of the MACD trend was how it crossed the signal line (arrowed) into the